AGOCO Sounds Capacity Alert As Unrest Hit Oil Sector
Rising security challenges and a wave of labor unrest are hitting Libya’s oil sector, whose top producing firm, state-owned AGOCO is already pressured by a debilitating lack of electrical power at its key fields.
This electricity shortage has reduced effective AGOCO capacity from 380,000-400,000 b/d down to 300,000 b/d, a company source tells MEES. BP withdrew some non-essential expatriate...